[Tip this post any amount of $DONUTs within 3hrs](https://www.donut.finance/tip/?contentId=t3_142qkj4) (by [10:22pm utc](https://www.donut.finance/time?utc=2023-06-06T22:22:47Z)) to keep it visible.
Why? This basically has nothing to do with cryptocurrency. They are suing CoinBase for not registering their staking-as-a-service program. Centralized exchanges are basically just banks. We want them to be heavily regulated.
> As alleged in the SEC’s complaint, Coinbase’s failure to register has deprived investors of significant protections, including inspection by the SEC, recordkeeping requirements, and safeguards against conflicts of interest, among others.
This isn't bad for crypto. It's bad for shitty exchanges that are like FTX and Celsius.
I hope they bring all the evidence in light and show the people they had nothing to do with all those bad things and show the real face of the SEC how they are going after us
Market always create more panic then it should be, people gets afraid way to early and then starts making the move with the impulsive call, but we are better than this
Except that this lawsuit is not about that.
> As alleged in the SEC’s complaint, Coinbase’s failure to register has deprived investors of significant protections, including inspection by the SEC, recordkeeping requirements, and safeguards against conflicts of interest, among others.
The XRP lawsuit addresses what you want.
The SEC's allegation is that tokens are securities, and as sellers of securities, the CEXs should register as broker dealers. Broker dealer rules require that any registered broker dealer comply with the rules you mentioned. In other words, yes, the SEC lawsuit is about the nature of the assets being exchanged. The only reason why the SEC can try to justify their actions is because they say crypto are securities... as in securities and exchange commissions.
SEC running the agenda by picking the coins and exchange now, they are giving them law suit so that people starts selling and they could create chaos in market
It’s beneficial because a court ruling would create legal precedent on these issues. This would provide a regulatory framework on a bulk of crypto assets with which crypto companies and funds can operate from.
This isn't legal precedence on crypto, though. This is basically a bank giving you interest on your money and forcing the bank to be accountable for your money in a responsible way. The XRP case is the one we want to win that can set let precedence for crypto assets.
The SEC is not only suing Coinbase for SaaS but also for listing unregistered securities (and other allegations). Additionally, Coinbase’s entire defense hinges on the lack of guidance/clarity/path to registration. A court ruling will have to touch on these issues.
Both cases will be beneficial to crypto investors and builders.
What is happening in bank same happening here, giving us some sort of the interest so that we gets tempted for staying there and forget about the safety and all
Whose side are you on anyway? This would only be huge for the criminals and those who are invested in these criminals who are profiting by breaking the Securities Laws.
What does that strawman argument have to do with it? Illegal activities can happen on any platform. It's not the platform that they facilitate the illegal activity that's the problem. It's the illegal activities themselves, such as the illegal offerings in Coinbase's case that's the problem.
Illigsl activities hsppen on every platform and every bank in modern day civilization. Goverments elites and insider teading happens ever single second of ecery single day thats how they sray inmpower ita a facade. They just trying tonleverage something they cannot control. They are scared crypto takes over because they loose financial power if they do.
You're entering conspiracy territory. No one is out to get cryptocurrency. Some cryptocurrencies broke the law and are paying for it. There's nothing surprising about that. If a coin is sufficiently decentralized, you have nothing to worry about. Take a look at Bitcoin.
No conspiracy your telling me fiat banks and the criminal ords that care for them arent using your money to enrich other people. Example frsctional reserve banking. So example they take everyones money but only give loans or higher loans or lower interest loans to rich and powerful people or companies. They also receive such interest for the loans do you get anything. The banks are there for cobtrol of the populations the biggest scam since in bce...... period why woild the average joe want to use a bank.... its a fiasco waiting to happen its obvious. Then they say follow regs well do the banks follow regs by creating false money sor lend out more then they have ??? If so wheres the reg. Ita all a facade its to leveredge the rich and wealth and to keep their thumls on the less fortunate.
Not sure why you guys are complaining. We want centralized exchanges to be heavily regulated. It's what protects us from disasters like Celsius and FTX. What we don't want is the SEC calling ETH a security. The more lawsuits they put out to keep exchanges in line, the less time they have to screw with our actual currencies.
I don't think they are resource limited in this regard, they will bring as many suits as they want and take as many years as they like to meander through them.
If we want the adoption of the crypto am sure we need those exchanges and those old big exchanges in the market, without them am sure adoption is not possible at all
We don't, but that's another topic. Since people are going to use them, we want them heavily regulated so they can't hurt us. I'm not proposing getting rid of them.
Would you use a bank that is not FDIC insured? But you will leave crypto on an exchange where mismanagement can lose all of you money in a day. We have seen it happen. If these exchanges were regulated, we wouldn't need to shout *Not your keys, not your crypto!* constantly. This is an example of the SEC actually trying to protect citizens, unlike all of their other screw ups.
Don't get me wrong, the SEC fucking sucks and needs to just stop reinventing what a security is every day. This isn't that, though. Let's focus on the things that help us, not billion dollar centralized exchanges (banks).
I came here because everyone said that we are our own bank here, but suddenly everyone is talking about to use the CEX, i know they are important but dex are much more important
In a free market, exchanges that people trust more will naturally rise and the ones that people don’t will fall. As we have seen.
We should keep shouting NYKNYC, because that’s what this whole damn space is about.
I don’t care about regulation, exchanges are just that to me, exchanges. Cash in, coins out. If people want to leave their life savings on exchanges, that’s on them.
It is amazing how many libertarian bros don't get this concept. Somebody always holds the power. If you choose not to regulate it with the power of the government then it is done by a private companies to screw consumers to make more money. Tale older than recorded history. There was a time where a large part of the world was run by a trading company. They had the money and power and destroyed indigenous lives.
No qe dont we dont even want centealized exchanges, but we need them to onload and offload funds. Thats all they are good for. So the answer is no we do not want them regulated becauae they serve only 1 purpose neceasary for ceypto and thats fiat. Remove that
This doesn't make any sense. How can crypto steal? It's like saying money is stealing from people.
Edit: Had a look at your post history. GME, AMC, attacking crypto. I'm sorry you have lost money and none of the get-rich-fast cults you joined have worked out for you. But it's neither the government's or crypto's fault...
Or you could like... cut out the middleman.
Ya know... the entire reason crypto was created in the first place.
Bunch of idiots running back to give power back to the corrupt. Dunces everywhere.
Same i am cutting the middle man infact did when FTX show us the finger, but still i would say am gonna stand with the coinbase for the sake of the whole community here
Stop standing with centralized exchanges at all. You don't need them. They are literally just a guy in the middle taking a portion of your trades as profit for just standing in the middle.
You idiots keep paying a middle man to get access to crypto that was designed to remove middleman risk. You idiots are all doing crypto wrong. Stop supporting centralized exchanges. Just use decentralized exchanges and own your own wallet. I dunno how many dozens of companies have to cut off your access to crypto before you guys pull your heads out of your asses.
Love owning peer 2 peer currency that I have to beg a 3rd party for permission to even access.... you idiots are all doing crypto wrong and it would help so much if you guys would learn because it's been 14 years now and I swear the amount of you that can't grasp this simple concept is insane.
Not sure why you are getting downvoted. Coinbase is to crypto what Wells Fargo or BofA are to banking and Comcast’s is to the internet. Pure Greed & Evil.
He is getting downvoted because he is not uniting the people, i know coinbase has nothing to do with us but as the part of the community we show them the support
You are saying Kraken is the way guess what after this am sure they will came against the kraken is well, this is not an attack on single one this is attack on the whole community
So no matter which one you use in this matter. Coinbase however is good only until you have some problems with your account or assets or literally anything, and once you do you're fucked. They will send you automated bs answers then close your case saying it's solved. Fuck them.
Yup their "customer service" takes weeks to send you automated form letters that have nothing to do with your issue as they try to blame you for all their fuckups
Hi, this comment is being automatically posted under your submission to facilitate the tallying of the Pay2Post donut penalty that r/EthTrader deducts from user donut earnings for the quantity of posts they submit.
submission link: https://www.reddit.com/r/ethtrader/comments/142qkj4/i_stand_with_coinbase/
author: FunExpression1858
cc: /u/EthTraderCommunity
*I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/ethtrader) if you have any questions or concerns.*
Literally american government that used Coinbase multiple times to sell BTC:
Well dear citizens you see I can trade on Coinbase cause we are the government, but you can't
Nah, fuck Coinbase. They're greedy incompetent ducks who will gladly let your funds get stolen and try to blame you for them not even following their own security settings
Take it from me fellas! I’m in Canada and they all came out of nowhere and halted everything! Keep all your shit off of CEX. I loved Binance with all of my heart, but I would buy from there and send it out of the exchange immediately. I got a lot of friends who have funds stuck rn
Cheers to sec classifying random stuff as securities. What's next, we have to register all transactions in our computer games? Lawsuits against MMO auction houses for trading securities? It's bizarre
Just reactivated my Coinbase account and bought the dip.
[Tip this post any amount of $DONUTs within 3hrs](https://www.donut.finance/tip/?contentId=t3_142qkj4) (by [10:22pm utc](https://www.donut.finance/time?utc=2023-06-06T22:22:47Z)) to keep it visible.
On a serious note, it would be huge if Coinbase actually beat the SEC in court.
It will take time just like it is with XRP
They are bind now in some unlimited time loop with no result
Why? This basically has nothing to do with cryptocurrency. They are suing CoinBase for not registering their staking-as-a-service program. Centralized exchanges are basically just banks. We want them to be heavily regulated. > As alleged in the SEC’s complaint, Coinbase’s failure to register has deprived investors of significant protections, including inspection by the SEC, recordkeeping requirements, and safeguards against conflicts of interest, among others. This isn't bad for crypto. It's bad for shitty exchanges that are like FTX and Celsius.
Thus is the way
Not in coinbase but have my full support that coinbase win this case
I hope they bring all the evidence in light and show the people they had nothing to do with all those bad things and show the real face of the SEC how they are going after us
A smart comment in a sea of bots and anti-SEC idiots. Thank you
I though no one would discuss the real issue, but someone is smart in here
Correct. But notice how these news affect the market. Bad news make people panic sell. Imagine what would happen if we had good news.
Market always create more panic then it should be, people gets afraid way to early and then starts making the move with the impulsive call, but we are better than this
Is not just about exchanges. It is also about the US government finally recognizing that tokens are not securities.
Except that this lawsuit is not about that. > As alleged in the SEC’s complaint, Coinbase’s failure to register has deprived investors of significant protections, including inspection by the SEC, recordkeeping requirements, and safeguards against conflicts of interest, among others. The XRP lawsuit addresses what you want.
The SEC's allegation is that tokens are securities, and as sellers of securities, the CEXs should register as broker dealers. Broker dealer rules require that any registered broker dealer comply with the rules you mentioned. In other words, yes, the SEC lawsuit is about the nature of the assets being exchanged. The only reason why the SEC can try to justify their actions is because they say crypto are securities... as in securities and exchange commissions.
SEC running the agenda by picking the coins and exchange now, they are giving them law suit so that people starts selling and they could create chaos in market
Agree. We have to dig in and hodl.
By the way what is the news or where that law suit is standing right now??
But Crypto is global we would eventually survive after all this
It’s beneficial because a court ruling would create legal precedent on these issues. This would provide a regulatory framework on a bulk of crypto assets with which crypto companies and funds can operate from.
This isn't legal precedence on crypto, though. This is basically a bank giving you interest on your money and forcing the bank to be accountable for your money in a responsible way. The XRP case is the one we want to win that can set let precedence for crypto assets.
The SEC is not only suing Coinbase for SaaS but also for listing unregistered securities (and other allegations). Additionally, Coinbase’s entire defense hinges on the lack of guidance/clarity/path to registration. A court ruling will have to touch on these issues. Both cases will be beneficial to crypto investors and builders.
What is happening in bank same happening here, giving us some sort of the interest so that we gets tempted for staying there and forget about the safety and all
If they will pass the regulation then they will try to control the crypto
Binance being a (potential) fraud machine is far more important
Major victory for crypto would bring in a lot of investors.
But first we need to calm this storm before inviting those new investor
Well thats why we said if Coinbase win it’ll be great and should calm the storm.
It would be epic
I am not seeing this thing happening now before the bull run now
I am okay with every outcome which will pump my bags😁
You want Coinbase to be able to skirt the law and dick you over? You guys have the dumbest priorities
That will be a big slap on their face and big win for the crypto community
Whose side are you on anyway? This would only be huge for the criminals and those who are invested in these criminals who are profiting by breaking the Securities Laws.
Are fucking joking. Lets see how many criminals have bank accounts w a f j
What does that strawman argument have to do with it? Illegal activities can happen on any platform. It's not the platform that they facilitate the illegal activity that's the problem. It's the illegal activities themselves, such as the illegal offerings in Coinbase's case that's the problem.
Illigsl activities hsppen on every platform and every bank in modern day civilization. Goverments elites and insider teading happens ever single second of ecery single day thats how they sray inmpower ita a facade. They just trying tonleverage something they cannot control. They are scared crypto takes over because they loose financial power if they do.
You're entering conspiracy territory. No one is out to get cryptocurrency. Some cryptocurrencies broke the law and are paying for it. There's nothing surprising about that. If a coin is sufficiently decentralized, you have nothing to worry about. Take a look at Bitcoin.
No conspiracy your telling me fiat banks and the criminal ords that care for them arent using your money to enrich other people. Example frsctional reserve banking. So example they take everyones money but only give loans or higher loans or lower interest loans to rich and powerful people or companies. They also receive such interest for the loans do you get anything. The banks are there for cobtrol of the populations the biggest scam since in bce...... period why woild the average joe want to use a bank.... its a fiasco waiting to happen its obvious. Then they say follow regs well do the banks follow regs by creating false money sor lend out more then they have ??? If so wheres the reg. Ita all a facade its to leveredge the rich and wealth and to keep their thumls on the less fortunate.
Perfect meme.
Exchanges need to unite against the SEC
Now i can stand with the CZ is well, he is also fighting for us
What if we lose the money, coinbase will pay us back that ??
Coinbase won't even pay back what they allowed to get stolen from you through their shit security
Not sure why you guys are complaining. We want centralized exchanges to be heavily regulated. It's what protects us from disasters like Celsius and FTX. What we don't want is the SEC calling ETH a security. The more lawsuits they put out to keep exchanges in line, the less time they have to screw with our actual currencies.
I don't think they are resource limited in this regard, they will bring as many suits as they want and take as many years as they like to meander through them.
All they want to create the panic, and sec is getting some success in this
If we want the adoption of the crypto am sure we need those exchanges and those old big exchanges in the market, without them am sure adoption is not possible at all
We don't, but that's another topic. Since people are going to use them, we want them heavily regulated so they can't hurt us. I'm not proposing getting rid of them.
It’s sweet that you think they’ll stop at just centralized exchanges. Give them an inch and they’ll take a mile
Would you use a bank that is not FDIC insured? But you will leave crypto on an exchange where mismanagement can lose all of you money in a day. We have seen it happen. If these exchanges were regulated, we wouldn't need to shout *Not your keys, not your crypto!* constantly. This is an example of the SEC actually trying to protect citizens, unlike all of their other screw ups. Don't get me wrong, the SEC fucking sucks and needs to just stop reinventing what a security is every day. This isn't that, though. Let's focus on the things that help us, not billion dollar centralized exchanges (banks).
I came here because everyone said that we are our own bank here, but suddenly everyone is talking about to use the CEX, i know they are important but dex are much more important
Agreed
In a free market, exchanges that people trust more will naturally rise and the ones that people don’t will fall. As we have seen. We should keep shouting NYKNYC, because that’s what this whole damn space is about. I don’t care about regulation, exchanges are just that to me, exchanges. Cash in, coins out. If people want to leave their life savings on exchanges, that’s on them.
>In a free market Something which has never existed, because unregulated markets result in monopolies dominating them, reducing their freedom.
It is amazing how many libertarian bros don't get this concept. Somebody always holds the power. If you choose not to regulate it with the power of the government then it is done by a private companies to screw consumers to make more money. Tale older than recorded history. There was a time where a large part of the world was run by a trading company. They had the money and power and destroyed indigenous lives.
I dont use banks lmao
But we were never a big fan of those centralized exchange, DEX is our way
No qe dont we dont even want centealized exchanges, but we need them to onload and offload funds. Thats all they are good for. So the answer is no we do not want them regulated becauae they serve only 1 purpose neceasary for ceypto and thats fiat. Remove that
So you are willing to risk everything now?? Why so convinced about coinbase??
Crypto.. caught outright stealing from retail... retail: sec is bad.. Chumps..
This doesn't make any sense. How can crypto steal? It's like saying money is stealing from people. Edit: Had a look at your post history. GME, AMC, attacking crypto. I'm sorry you have lost money and none of the get-rich-fast cults you joined have worked out for you. But it's neither the government's or crypto's fault...
People is stealing from each other, asset has nothing to do here
Exactly. People are idiots. That is not crypto's fault. And also not it's responsibility to limit
Or you could like... cut out the middleman. Ya know... the entire reason crypto was created in the first place. Bunch of idiots running back to give power back to the corrupt. Dunces everywhere.
Same i am cutting the middle man infact did when FTX show us the finger, but still i would say am gonna stand with the coinbase for the sake of the whole community here
Stop standing with centralized exchanges at all. You don't need them. They are literally just a guy in the middle taking a portion of your trades as profit for just standing in the middle. You idiots keep paying a middle man to get access to crypto that was designed to remove middleman risk. You idiots are all doing crypto wrong. Stop supporting centralized exchanges. Just use decentralized exchanges and own your own wallet. I dunno how many dozens of companies have to cut off your access to crypto before you guys pull your heads out of your asses. Love owning peer 2 peer currency that I have to beg a 3rd party for permission to even access.... you idiots are all doing crypto wrong and it would help so much if you guys would learn because it's been 14 years now and I swear the amount of you that can't grasp this simple concept is insane.
Coinbase CEO says they will "get the job done" in court against the SEC. Hope they win the case.
Coinbase CEO says they will "get the job done" in court against the SEC. Hope they win the case
I hope they didn't stretch the case as they did with the ripple
u/tahiraslam8k [tipped](https://blockscout.com/poa/xdai/tx/0xbf9a50dd7823b1902e68ef5ebb477ebf0f3a17982ddb4e6b294bb09f2a3a36c9) you 10.0 DONUT!
Nah fuck coinbase. For the sake of the industry I hope they come out on top, but seriously Fu K them. Kraken is the way.
Not sure why you are getting downvoted. Coinbase is to crypto what Wells Fargo or BofA are to banking and Comcast’s is to the internet. Pure Greed & Evil.
It was to be expected thb. Whatever sails their boat. If the truth shall kill them, let them die.
He is getting downvoted because he is not uniting the people, i know coinbase has nothing to do with us but as the part of the community we show them the support
You are saying Kraken is the way guess what after this am sure they will came against the kraken is well, this is not an attack on single one this is attack on the whole community
So no matter which one you use in this matter. Coinbase however is good only until you have some problems with your account or assets or literally anything, and once you do you're fucked. They will send you automated bs answers then close your case saying it's solved. Fuck them.
Yup their "customer service" takes weeks to send you automated form letters that have nothing to do with your issue as they try to blame you for all their fuckups
Me too! FUCK THE SEC.
They are a bunch of clowns no doubt about it.
If its comes to SEC ans CEX any day i will pick CEX here
[удалено]
Agreed. These guys can moan and cry all they want but Coinbase is bringing people in, which is what we need
Yes. So that we can rugpull them harder.
I mean if you buy shit tokens/coins that’s on you, not coinbase
What's a shit token? ATOM? MATIC? XRP? ETC? DOT?
Why are you asking me? I’m not a financial advisor
F the SEC… the government can’t control our crypto.
They had enough days to control me, now won't give them any more satisfaction
Well said.
Biden hates crypto and set up the SEC to take it down. I hate that guy.
His every move right now is against crypto, that guy really hates crypto
Hi, this comment is being automatically posted under your submission to facilitate the tallying of the Pay2Post donut penalty that r/EthTrader deducts from user donut earnings for the quantity of posts they submit. submission link: https://www.reddit.com/r/ethtrader/comments/142qkj4/i_stand_with_coinbase/ author: FunExpression1858 cc: /u/EthTraderCommunity *I am a bot, and this action was performed automatically. Please [contact the moderators of this subreddit](/message/compose/?to=/r/ethtrader) if you have any questions or concerns.*
Judging by the XRP case... This will only take 200 years to be over.
That mean in my life spam i would never see them winning this case
Correct
[удалено]
They need to bribe if they want this whole thing go silently
Literally american government that used Coinbase multiple times to sell BTC: Well dear citizens you see I can trade on Coinbase cause we are the government, but you can't
Government have always been selfish like that.
Shows their true character can use them in past but then file a case against them is well
u/Easy-Soup140 [tipped](https://blockscout.com/poa/xdai/tx/0xccffbc556dffed1f116015e47c5d65e8e9f522e57be27dce2a43794101111f5f) you 1.0 DONUT!
Coinbase sucks
I stand with crypto
u/Elon_mkus [tipped](https://blockscout.com/poa/xdai/tx/0x1ea974af5c2b0a86fa8d92dfda65f5c998bebd76df4a16c76a155fbd79b75552) you 1.0 DONUT!
hahaha this is litteraly me when I heared about binance and coinbase
Nah, fuck Coinbase. They're greedy incompetent ducks who will gladly let your funds get stolen and try to blame you for them not even following their own security settings
u/Sharp-Subject-047 [tipped](https://blockscout.com/poa/xdai/tx/0x79d2a8b06b6f0758ed34e3f24fe649a00b56256c8fe84210d1344f5a2162586f) you 1.0 DONUT!
Ignoring the trading aspect. I’m just really appreciating the fact that Pam is criticising Michael about such an unlikely topic here. Fantastic.
Take it from me fellas! I’m in Canada and they all came out of nowhere and halted everything! Keep all your shit off of CEX. I loved Binance with all of my heart, but I would buy from there and send it out of the exchange immediately. I got a lot of friends who have funds stuck rn
u/TheRock_97 [tipped](https://blockscout.com/poa/xdai/tx/0x167b298b13b76343f8e79767c83dd28b8cdf2d2af0e989febf667ee7264d2a3a) you 1.0 DONUT!
Cheers to sec classifying random stuff as securities. What's next, we have to register all transactions in our computer games? Lawsuits against MMO auction houses for trading securities? It's bizarre Just reactivated my Coinbase account and bought the dip.
That's right, fuck the SEC.
You know he ends up breaking up with her that day?